General Terms in International Trade: The Application and Importance of Incoterms®
Incoterms® are the standard terms in international trade that clarify the responsibilities of buyers and sellers. The 2020 version aims to reduce disputes.
Aviation Leaders Shape Industry Future Via IATA Councils
This paper delves into the operating rules of IATA's Advisory Councils, detailing their definition, roles and responsibilities, membership, chair election, meeting procedures, and the establishment of working groups. It also provides a detailed interpretation of the specific responsibilities of each advisory council, aiming to reveal how these 'aviation brains' contribute to the sustainable development of the global aviation industry. The analysis highlights the crucial role these councils play in shaping aviation policy and providing expert advice to IATA.
FOB Airport Pricing Key to Mitigating Air Freight Risks
This article provides an in-depth analysis of FOB Airport Price in international air freight, clarifying its price composition, risk transfer mechanisms, and the division of responsibilities between buyers and sellers. By comparing it with traditional FOB, the article highlights the unique application of FOB Airport Price in air freight trade. The aim is to help practitioners mitigate trade risks and ensure smooth transactions. It covers key aspects like price calculation, responsibilities of each party involved, and potential pitfalls to avoid when using this specific trade term.
Liberia Enhances Tax Collection with WCO Assistance
With the support of the WCO WACAM project, the Liberia Revenue Authority is actively implementing a competency-based human resource management system. This includes developing tools such as job benchmarks, competency frameworks, and job descriptions, as well as formulating human resource and training strategies. This initiative aims to enhance employee performance, achieve organizational goals, and inject new vitality into Liberia's economic development and social progress. The focus is on building a skilled and effective tax workforce.
WCO Backs Palestinian Customs Modernization Efforts
The World Customs Organization (WCO) is assisting Palestine Customs in modernizing its Human Resource Management (HRM) through a workshop held in Tunis. This support focuses on building a competency-based HRM system, including developing a job directory, competency framework, competency dictionary, and job descriptions. WCO experts will provide remote support to ensure the successful implementation of these reforms. The initiative aims to improve the efficiency and international competitiveness of Palestine Customs by strengthening its workforce and aligning HR practices with international standards.
Unions React to Union Pacificnorfolk Southern Merger Proposal
The proposed $85 billion merger between Union Pacific and Norfolk Southern is under scrutiny, with labor unions expressing concerns about job security and fair treatment. The Surface Transportation Board (STB) will conduct a comprehensive review, balancing the interests of all stakeholders. The merger aims to enhance efficiency and improve service, with the anticipation of collaborative success and a new chapter in rail freight. The unions' perspective on job protection and equitable conditions will be a key factor in the STB's decision.
Importer of Record Key to Global Trade Compliance
This article discusses the significance of the Importer of Record in international trade, highlighting its responsibilities in handling customs documentation, payments, and compliance. It emphasizes the crucial role it plays in ensuring smooth customs clearance for goods.
Comprehensive Analysis of Bill of Lading Clauses and Risk Management in International Logistics
This article discusses the key information and terms of the bill of lading in international logistics, emphasizing the legal relationship and risk management between carriers and merchants. It clarifies the division of responsibilities to mitigate commercial risks.
Logistics Sector Faces Challenges Amid Economic Uncertainty
The 36th Annual Logistics Status Report reveals that the logistics market faces challenges amid uncertainty, with upgraded technology and resource integration as key strategies. At the same time, businesses must focus on sustainability to enhance logistics efficiency and fulfill social responsibilities.
Key Duties of Importers in Global Trade Explained
Importers bear customs responsibilities in international trade, including document preparation, product classification, and tariff payment, as well as compliance with laws and regulations. This crucial role ensures business compliance and effective operations, particularly in the complex environment of international markets.